Debt

Iceland Forgives Mortgage Debts in a Year of Jubilee

Basically, during the crisis, the amount of money that people owed on their adjustable mortgages jumped up significantly during a period of rapid inflation. So now the government of Iceland is forgiving the debt—or at least the percentage of the debt that was incurred as a result of the inflation.

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Bouncing Back from Bankruptcy: Brittany Powell and the Debt Project

I’m interested in creating a platform to discuss how stigmatized debt is in our culture. It’s a publicly enforced system, but it’s typically privately experienced.

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On My Own: Doing a Personal Finance 180

I’m standing in Trader Joe’s, contemplating a container of chicken broth. It’s $1.99. I put it back. After I’ve checked out, I tell my roommates, who are grocery shopping with me, that I’m going to run next door to Foods 4 Less. I’ve actually never shopped there before, but I suspect its chicken broth is cheaper—and I’m right, It’s only $1.68.

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Love and Debt in a Nearly-Dissolved Marriage

My husband should have known what he was getting into.

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Let’s Throw Some Money at Our Problems: October 2014 Check-in

Pull up those balances!

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Trying to Pay Off Debt and Falling Off the Wagon (As We Do Sometimes)

Mike: We’re going to do a monthly debt check-in later today. Let me know what your new balance is.

Logan: It’s gone up.

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How A Sticky Note Helped Me Get Out of Debt

It did not take the newest financial planning app to get me out of debt. It did not take a large cash windfall or death of some mysterious, wealthy relative who I’d never met. It was a lot more low-tech than that.

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C is for Collateral

Loans with collateral are referred to as “secured debt,” and loans without as “unsecured debt.”

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To Pay Back Loans Faster, Go West, Young Man

Nearly three-quarters of college students borrow funds to pay for school these days and, as we know, it is not always easy — or possible — to pay those loans back. Well, it turns out one thing you might be able to do to help yourself succeed is move. Specifically, move west.

According to schools.com, four of the top five states for student loan repayment are on the Pacific side of things: Utah, Wyoming, Washington, and Nevada. (The fifth is Virginia so the Atlantic gets a brief nod.) California and Colorado also place in the top 10. But stop short of Cali: San Francisco is a luxury ghost town these days. (“On average, 39 percent of condos built since 2000 have absentee owners, and for newer buildings like One Rincon Hill, that number is 50 percent or above.”) Also there’s no water.

Why is the West such fertile ground for loan repayment? Low unemployment rates, low cost-of-living, and high incomes boost Utah and Wyoming. Washington State, Wyoming, and Nevada make things easier on residents by not charging income tax. Wait, what?

FYI, there are only seven states that don’t charge income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.  I can understand the small and the oil-rich not needing to profit off individuals but how on earth do huge states with significant populations of poors and olds like Texas and Florida get away with that? Texas makes up the difference via property taxes, “some of the highest in the nation.” New Jersey and New Hampshire are also expensive places to own property. And Florida … is there anything good to say about Florida?

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Job of the Day: Debt Collector

Jake Halpern at the Times spent the day at a debt collection agency, even going so far as to jump on the phone — at the agency’s insistence — and hound people with outstanding debts.

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